Updated

LTC - ABC Correction Scenerio

What's up Traders! Hope you're having a fantastic Thursday and are keeping a cool head in this exciting market. I'm switching up my chart style to be more infographic on the chart and less text heavy in this section. I hope you like it and can understand my idea purely from the info on the chart. Please let me know what you think of this new style and also of my idea for an ABC retracement back to $137! Ack! But it's all good, this is could just be LTC's road back to $200+!!

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btw, I'll be trading on these numbers once I get confirmation of the $148 bounce. That would be solid confirmation that LTC is trading on the FIB levels I've charted. Going from .5 to .236 is very common on ABC corrections. I could however be wrong on the .65 dip, but as that's the only level I found major support, it's where I'm putting my chips. If we see a bounce on .5 for wave C I'll wait for LTC to pass $167 before buying back in for confirmation.

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LTC past the .5 level and is plummeting .618 or .615 level. This causes the RSI to be oversold, meaning a better chance of a .618 bounce as buyers are eager to buy back in on a over sold crypto.

Expect a strong bounce back to $148 minimum. After that... not a good sign, I thinking a bottom out pattern at $137 more than a strong green candle.

I’m discovering that this recovery is not easy mode. It’s slow, yet positive. Will keep this into account as we move forward in this 2018 crypto market

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because we didn't get the .5 bounce and went straight to .65 at $137 I'm moving my sell from $168 to $157 for a .382 level

Also setting next buy after that sell for $137 again. Strong double bottom scenario would be great for LTC's overdue bull run

roaken

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roaken